Autori: Gale, Douglas , Gottardi, Piero , Cabrales, Antonio
Titolo: Financial contagion in networks
Periodico: European University Institute of Badia Fiesolana (Fi). Department of Economics - Working papers
Anno: 2015 - Fascicolo: 1 - Pagina iniziale: 1 - Pagina finale: 27

This paper provides an introduction to the literature on financial contagion in networks. In the first part, we consider contagion via transmission of shocks, i.e. an abrupt drop in the flow of revenue to one firm, which affects other firms connected to it through financial linkages. We then study informational contagion, by which we mean the process whereby a shock to one market is transmitted to other markets by means of information revealed in the first market.


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